I took the courses and after passing the test I received my CDPE (Certified Distressed Property Specialist) designation.
What does this mean? I have been selling short sale properties since 2007. I have been successful in closing after what proves to be an arduous process. It takes a lot oftenacity to set up the paperwork that the bank require. To do the continuous follow-up week after week. You have to be committed to getting the job and helping the people that so desperately need your help.
In the class, I learned about the negative impact that foreclosure can have someone. It will impact your credit terribly and could have lifelong consequences as they can continue to go after the debt. If you are in a security position such as a policeman for example it can hurt your chance of moving up in security clearance.
The best option if you become a distressed property owner is to try to short sale. The best advice is to chose a REALTOR who has the experience and commitment to see it through.
I was at a recent short sale closing. The title agent said they didn't know whether they should do the congratulatory comment that is usually done at closings. I assured them that, yes, they should. The sellers are usually very happy to be out from under such an emotional and financial burden.
I had the experience but the designation gave me some additional tools to give my customers the best service possible.
RE/MAX Alliance Group